Monday, January 19, 2009

Bank of the Living Dead

As anyone familiar with George Romero's work knows, the only way to deal with zombies is a bullet in the head. Treasury and the Fed, however, seem to think that if they spend a fortune on fancy clothes and makeup they can revive the dead. Unfortunately, they're using our entrails to keep the zombies well-fed while they try to give their creation life.

Op-Ed Columnist - Wall Street Voodoo -
Old-fashioned voodoo economics — the belief in tax-cut magic — has been banished from civilized discourse. The supply-side cult has shrunk to the point that it contains only cranks, charlatans, and Republicans.

But recent news reports suggest that many influential people, including Federal Reserve officials, bank regulators, and, possibly, members of the incoming Obama administration, have become devotees of a new kind of voodoo: the belief that by performing elaborate financial rituals we can keep dead banks walking.
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